How much profit do you target in a rehab?

[Bryan Davis]

I’ve been out of real estate for nearly a decade and I’m working toward getting a rehab project together. I came up under Ron LeGrand back in 2006-2008 and the target profit on a rehab that I remember learning was 20% of ARV with a minimum of $20,000. It’s been a while now and the market’s been through a bit and I’m wondering if this is still a valid target. My question is, how do YOU target a profit when you’re putting together an offer? Thank you for any insight.